The Development Fund

The CEPA Development Fund commenced at the end of the first year of CEPA (2001) with an initial infusion of Rs. 1mn.  The sources of funding are as follows:

• Annual appropriations from CEPA
• 10% of programme funding received by CEPA
• Contributions from donors who are interested in securing the longer term stability ad professional independence of CEPA.
• Investment return invested in the Fund
• Contributions from the Friends of CEPA (a group of individuals with an interest in the research done by CEPA)

 The Development Fund, continued to grow in 2014, though at a slightly reduced pace with investment earnings being reinvested in the Fund and some contributions from the Friends of CEPA. The Fund recorded a growth of 50% in the past four years, since CEPA has been self sustained and has not drawn on the income earned by the Fund since 2011. In addition, CEPA has contributed to the growth of the Fund from surplus earned during the previous year.  The reduction of interest rates in the country resulted in the Fund earning lesser net earnings during 2014. The Fund is managed by an independent Board of Trustees.  Trustees for 2014 are:

• Mrs. Manohari Alles (Chairperson)
• Ms Nilakshi de Silva (representing CEPA staff)
• Mr. Wimal Nanayakkara (representing CEPA’s Subscribing Members)
• Dr. Indrajit Coomaraswamy (representing the Board of Directors)

The strategies and plans in place, focus on CEPA operations being self sustained so that the Development Fund can grow to provide the organisation the independence and financial stability to continue its research and services. The need to secure longer term funding continues to be the focus of CEPA’s strategic planning.